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of the economy, but this is has consumption fall as a share of gdp. >> exactly. and this is not a new issue. so we can't expect that just a new bunch of people come in, that the situation will change anytime soon. there are serious structural issues why china remains investment led rather than consumption led and the it would take big and far reaching policy reform to change that. >> will we see these reforms in light of the reports coming out of china as we mentioned with eunice just a few moments ago that perhaps we're not necessarily seeing as a reformist of a leadership for the next couple of years? >> yes, we don't really know what the new leadership is. in fact, for the last ten year, hu jintao was the leader, but the previous leader was in the background and he retained a lot of influence. and now the new leader will have not just hu jintao to deal with, but also his predecessor. so two who he'll have to deal with. 20 old people who used to be on the bureau, all of which will be exercising some influence. so i think this new leadership will be rather constrained at least for the first co
as the chinese economy shows signs of improve. >>> and we'll head out to washington for a view on how the handover of power in china will impact relations in the u.s. >> we're in london to talk about shipping trends. >>> plus what will obama do about the looming fiscal cliff? we'll have plenty of analysis from commentators. >> and we'll hear first from the cfo of aliance. but first day two data suggested growth is picking up and inflation is moderating meaning beijing may have more scope to ease if necessary. ppi industrial output and retail sales all came in better than forecast. eunice joins us from beijing. i'd hate to suggest this is quite good timing for this data. very convenient. >> what are you suggesting? a lot of people are saying that the numbers are showing the economy is bottoming out and a lot of people do use the numbers as a guideline at least. they're saying the investment figures were encouraging. looking relatively strong. the government hasn't put up of much money in the infrastructure projects, so that's part of the equation here. other part is retail and consumpt
ministers to say the economy may already be in recession. one step forward, two steps back. greek lawmakers approve 2013 budget, but germany warns brussels aren't likely to sign off on the next tranche of aid at their meeting today. lorenzo tells cnbc greece needs more time and he's urged europe to extend the company's debt maturities. plus president obama will get a lot of input this week from civic leaders on how to tackle the looming fiscal cliff before he sits down with house and senate leaders on friday. we're up and running for a fresh week of global business news. we'll hear from kelly fairly shortly. also on today's program, we'll be in brussels ahead of the important euro group meeting. focus there on greece and the eu budget. after the weekend, talks collapsed. and the annual world energy outlook report in an hour and plus analysis of where oil prices can be headed. and best buy gets set to join the tablet wars with it insignia flex. what can it offer to customers that the ipad, kindle 5 and surface can't. the first japanese government may be forcesed to lower its outlook for the
about the u.s. economy. >> you're watching "worldwide exchange," bringing you business news from around the globe. >>> hello. welcome to today's "worldwide exchange". >> 40 unions in 23 countries. that's the strikes that are planned across europe today. so if you thought there couldn't be any coordination, there is coordination. >> how are we going to be affected? >> you know, air travel, surprisingly, they have had to have a lot of cancelling due to strikes. >> we're fully at our jobs. there's two hours of it today. let's remind you exactly what's coming up. we'll have updates from beijing throughout the program as the new generation takes the first step towards leadership. >> and we're in london. talk to the ceo of wpp, martin sorrel. >> we discuss japanese banks. >> and the latest on cisco from silicon valley as the network equipment maker warns of slowing growth this quarter and some falling demand in europe. >> more than 2,000 delegates have cast their votes for china's new central committee, marking the end of the week long communist party. the world will have to wait one more day
of the communist party. we'll be in frankfurt for a look at how that economy has been affected. gdp showing a slowdown for germany in the third quarter. and we'll hear from the former head of the council of economic advisers austan goolsbee on how the u.s. can avoid falling off the fiscal cliff. plus we'll take you live to tokyo with japan hit by election fever. the yen is falling as a repeated call for bold monetary easing. and we'll be live in new york 5:45 a.m. for a look at the u.s. retail sector. walmart and target getting set to release third quarter numbers. >>> chig that's ruling com uhe nus party has lifted the curtain. the unveiling seals so s xi jins rise. hu has seeded oig all powers and that's gives china's next leader a strong mandate. eunice has more for us this morning. it sounds like a pretty signature consolidation of power under xi. >> definitely is a consolidation of power. he'll get a very strong mandate as you had mentioned to run this country the way that he wants. he gets the three top titles, the most powerful are party chief, president as well as military commander
impact. >> definitely. year over year, oil demand is up. we've had very weak economy in europe. not much growth in the united states. but i think that's the trend we'll be playing out for the next few years. >> oil 110 at the moment. is that a fair price? >> there's premium built in because of geopolitical risks. i think premium is probably justifiable. you look at wti at $23 discount to where breptd is. that's not sustainable in the long time, but given inventory levels, that will stay. >> do you keep your trade on oil? >> we have neutral position, but we're short the front month. respe respect. we make money by rolling the contracts the other way around. we're long oil in the 12 months forward rolling in to the 13th month and we end up with little more oil with that strategy. so more of a curve play. >> all right. patrick, you're with us for the first half hour. also we'll be out to new york for a check of the retail sector in the wake of super storm sandy. some department stores are getting ready to report third quarter numbers. >> we're also live in italy ahead of the three biggest b
Search Results 0 to 5 of about 6